Enterprise Holdings Acquiring Zimride Ride-Matching Program

ST. LOUIS--(BUSINESS WIRE)--Enterprise
Holdings today announced that it is acquiring the business of Zimride,
an online service that efficiently connects drivers, passengers and
partners with colleges and universities to facilitate sustainable
transportation-management solutions. Zimride is the largest
ride-matching program in the United States with more than 350,000 users.

The acquisition closed July 10; financial terms of the transaction will
not be disclosed. Zimride, which leverages the power of social media by
integrating with Facebook,
is active on 130 university and corporate campuses. The Zimride service
was launched in 2007 by the company now known as Lyft Inc., the industry
leader in peer-to-peer transportation. The Lyft team will retain all
assets related to their smartphone-based ridesharing and peer-to-peer
transportation community, Lyft, while also working with Enterprise to
transition and expand the Zimride product offerings.

Enterprise Holdings, the most comprehensive service provider in the car
rental industry, operates the flagship Enterprise Rent-A-Car brand as
well as the National Car Rental and Alamo Rent A Car brands. The company
also offers Enterprise
CarShare – with a suite of products and policies specifically geared
to the car-sharing customer experience – and Enterprise
Rideshare, one the country’s leading carpooling and vanpooling
programs for commuters.

“This acquisition is the perfect complement to our existing car-sharing,
vanpooling and car rental services,” said Ryan Johnson, assistant vice
president overseeing Enterprise CarShare and Rideshare operations. “With
Zimride’s industry-leading technology, we will be able to even further
enhance our offerings and provide a total transportation solution to our
partners and customers worldwide.”

Lyft’s President, John Zimmer, agrees. “Zimride’s goal has always been
to bring together the best of multiple modes of transportation to create
a more social, affordable and efficient system for communities on
college and corporate campuses,” he noted. “We are excited to have those
offerings expanded and improved through solutions offered by Enterprise.”

Sustainable Transportation Since 1957

Enterprise has been delivering transportation alternatives right where
people live and work since 1957, an early example of today’s “collaborative
consumption” trend. Forty years later, it trademarked the term Virtual
Car®, after recognizing the long-term impact of such a sustainable
neighborhood-based business model. Today, Enterprise currently operates
almost twice as many locations as its nearest U.S. competitor, with more
than 5,500 offices
located within 15 miles of 90 percent of the U.S. population.

“We have great respect for what Zimride has accomplished by using
state-of-the-art technology to make car-pooling, vanpooling and
car-sharing options even easier and more affordable for individuals and
organizations,” Johnson explained. “As a result, we are excited to
continue serving Zimride’s existing customer base and to introduce the
software to the largest passenger-vehicle network in the world.”

The Zimride and Enterprise sales teams will begin working together
immediately. “With Enterprise’s industry leadership and strength, this
will mean even greater levels of customer satisfaction and rapid
expansion of the Zimride footprint,” Johnson stated.

Enterprise Holdings and its affiliate Enterprise Fleet
Management together offer a total transportation solution. Combined,
these businesses – which include extensive car rental and car-sharing
services, commercial truck rental, corporate fleet management and retail
car sales – accounted for $15.4 billion in revenue and operated 1.3
million vehicles throughout the world in fiscal 2012. Enterprise
Holdings, through its regional subsidiaries, operates the largest fleet
of vehicles in the world through a global network of more than 8,200
airport and neighborhood locations under the Enterprise
Rent-A-Car, National Car Rental and Alamo Rent A Car brands. Its
affiliate, Enterprise
Fleet Management, provides full-service fleet management to
companies and organizations with small- to medium-sized fleets. Other
transportation services marketed under the Enterprise brand name include Enterprise
CarShare, Enterprise
Rideshare, Enterprise
Car Sales and Enterprise
Commercial Trucks. Enterprise Holdings is the largest car rental
company in the world as measured by revenue, fleet and
employees. Enterprise Holdings’ annual revenues also place it near the
top of the travel industry, exceeding all other rental car companies,
and most airlines, cruise lines, hotels, tour operators and online
travel agencies.

About Lyft & Zimride

Lyft Inc. was founded in 2007 with Zimride as its first of two products
built to create a more social, sustainable and affordable transportation
system. Zimride is the largest web-based carpool network in North
America. More than 350,000 users have used the Zimride platform, saving
over $100 million on auto expenses. Zimride’s private carpool networks
have been implemented by 130 of the nation’s leading organizations
including UCLA, Harvard, University of Michigan, Facebook and the
Department of Energy.

The second product from Lyft Inc., Lyft, is not part of this
transaction. Lyft, is the latest evolution of smartphone-based
ridesharing and peer-to-peer transportation. Lyft launched in June 2012
and is now live in San Francisco, Los Angeles, Seattle, Chicago, Boston
and San Diego. It has quickly become one of the fastest-growing tech
companies with over $80 million raised from leading investors Andreessen
Horowitz and Founders Fund. Lyft was recently featured in The Wall
Street Journal, Time Magazine and The Economist.